(MT Newswires) -- Tim Spence, CEO of Fifth Third, reveals that despite a tumultuous 2023 for the banking sector, his bank ended the year with a return on assets of 1.3% and a return on tangible equity of 17%. This performance makes Fifth Third one of the best-performing banks in its category. For 2024, it forecasts conservative loan growth of 2%, driven by the middle market and recent acquisitions of fintech lending platforms. Spence discusses Fifth Third's strategy of focusing on market density and local presence rather than massive expansion, an approach that has helped it acquire new customers and maintain its operating margin. Tim Spence also hopes to see regulatory improvements, including a reduction in restrictions on home loans to make it easier for first-time buyers to buy a home.
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36.9 USD | +0.22% | +1.79% | +6.99% |
Apr. 23 | Fifth Third Bancorp Insider Sold Shares Worth $274,457, According to a Recent SEC Filing | MT |
Apr. 22 | Fifth Third Bancorp Insider Sold Shares Worth $540,549, According to a Recent SEC Filing | MT |
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